Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
Bill on Bankruptcy: Complaint Claims Judge Is a Bigot
Too Big To Fail in the Dodd-Frank Era
Bill on Bankruptcy: What's in the $83M ResCap Examiner's Report?
Dewey's Bankruptcy Lawyer: More Large Law Firms Will Fail
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Lehman Test Case on Judicial Nullification
Cohen: Cyprus Is Not A Template For Future Restructurings
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Deloitte: Turnarounds and Democracy Don't Mix
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
Buchheit: Cyprus Could Need a Second Bailout
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Bill on Bankruptcy: Why is Kodak's Stock Soaring?
Smolinsky Sees Similarities Between Reader's Digest, Kodak
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
Bankruptcy and Insolvency. It's not as bad as you think!
After attempts to pay back the student loans that financed his law degree pushed him into bankruptcy, an Oregon man who struggled to become a lawyer but never did will have at least some of those loans forgiven, according the...more
While students get breaks on their loans in some ways, filing bankruptcy has never been one of them. But if a federal appellate opinion and action in Congress are any indicators, that could be changing....more
Conventional wisdom says that it is nearly impossible to obtain a discharge of student loan debt in bankruptcy. Indeed, Section 523(a)(8) expressly excepts student loans from discharge, unless the exception of such...more
April 18 (Bloomberg) -- Why and when U.S.-managed hedge funds can go bankrupt in the Caribbean, not in the U.S., is the first item discussed on the new bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg...more
After receiving a general release from his debts under Chapter 7 bankruptcy, Roger Traversa filed for release from his $60,000 student loan debt, claiming that it would be an undue hardship for him to repay. Traversa...more
The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more
Feb. 6 (Bloomberg) -- The dominance of Delaware and New York bankruptcy courts is secure for another two years, for reasons Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on their...more
The U.S. Senate is considering a law that would allow consumers to discharge private student loans through bankruptcy, a measure that could bring relief to untold thousands who are drowning under oppressive college debt....more
The amount of student loan debt in the United States is close to $1 trillion. Student debt has passed up credit-card debt to become the second-largest category of consumer debt in the country. Only mortgage debt is...more
The mantra is repeated over and over: You can’t discharge student loans through bankruptcy. However, while it’s reality for most indebted people, the conventional wisdom isn’t quite true.
In a seldom-invoked provision,...more
A recent decision by the Second Circuit underscores the importance to debt collectors of accurately describing the options available to a student loan borrower in bankruptcy, even a borrower who previously filed but did not...more
On August 30, the U.S. Court of Appeals for the Second Circuit held that a debt collector’s representation to a debtor that her student loans were “ineligible” for bankruptcy discharge is a “false, misleading, or deceptive”...more
If you want to relocate, consider Niagra Falls and reduce your student loan debt....more
The Consumer Financial Protection Bureau has issued a report highlighting significant consumer protection issues in the private student lending industry and making recommendations to ensure transparency.
July 25 (Bloomberg Law) -- While economic indicators continue to worsen, US bankruptcy law still prohibits individuals from getting rid of their student debt except in the rarest of circumstances. U.S.Representative Steve...more
Student loan debt is on the rise in this country, so it is no surprise that one of the most common questions posed by potential clients is whether or not they can eliminate their student loan debt. The answer is most likely...more
April 25 (Bloomberg Law) -- Former University of Nebraska and University of Houston Law School Dean Nancy Rapoport tells Bloomberg Law's Lee Pacchia that she expects some law schools to close their doors because of the...more
A new law under consideration by the United States Senate could make bankruptcy a viable option for consumers who are struggling to repay their student loans, if the loans came from a private lender.
- Student loans...more
In the past, student loans could be discharged by bankruptcy but not anymore. Since 1976, the bankruptcy code was changed to disallow student loans from being discharged. Recent statistics have shown that the amount of...more
On June 2011, United States Senators Durbin, Whitehouse, and Franken joined with several United States Representatives to introduce legislation to reinstate a fair playing field for debtors facing student loan debt by...more
Breaking the illusion of the current economic crisis by taking a symbolic look at the classic film, Wizard of Oz. I propose a sequel. ...more
A former client called to tell me that her niece was being evicted from her one-family house in Queens County and asked if I could help. The niece, who had recently lost her husband after a long illness, had already paid...more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo